big banks and the fed are helping (not bailing out) the economy making up for poor subprime loans. these make up less then 5% of all loans. lending will tighten and the dumbasses who bit off more then they can chew will suffer.
american economy collapse?, I dont think so.
But dumping more cash in to the system devalues the dollar for everyone ... everyone except the first "person" to make a transaction with it ... now that is fair, huh?
If the Fed solution to every crisis and every bad investment made by every company in this country were to dump billions of dollars in "liquidity" (read: freshly printed dollar bills, or zeroes at the end of 1s in bank accounts) ... then our dollars would be worth pennies and our pennies worth pesos.'
I completely fail to see how "Oil hit a RECORD high TODAY" is any sort of positive indicator. Oil will continue to soar higher and higher. If it comes down, it is only because one country is increasing their output in the short term, or some country is selling barrels from their reserve.
The fact that oil continues to rise in price should be viewed as a horrible precursor to the decline of empire and the start of WWIII. It definately should not be heralded as some indicator that the economy is on the rebound!
yikes!
If I was to smile and I held out my hand
If I opened it now would you not understand?
But dumping more cash in to the system devalues the dollar for everyone ... everyone except the first "person" to make a transaction with it ... now that is fair, huh?
If the Fed solution to every crisis and every bad investment made by every company in this country were to dump billions of dollars in "liquidity" (read: freshly printed dollar bills, or zeroes at the end of 1s in bank accounts) ... then our dollars would be worth pennies and our pennies worth pesos.'
I completely fail to see how "Oil hit a RECORD high TODAY" is any sort of positive indicator. Oil will continue to soar higher and higher. If it comes down, it is only because one country is increasing their output in the short term, or some country is selling barrels from their reserve.
you fail to see? oil is a vital commodity to the strength of the economy. the higher the price, the more the economy suffers.
The fact that oil continues to rise in price should be viewed as a horrible precursor to the decline of empire and the start of WWIII. It definately should not be heralded as some indicator that the economy is on the rebound!
if the american economy can shrug off high oil prices, its a sign of strength.
And they are bailing them out and again this is a global not american thing.
They are going to cut your interest rates so the dumbasses as you put it will feel confident to spend. But again if you read up on it you will see that something has to give somewhere.
Myabe you could look up what i'm talking about because quite frankly i'm not here to teach you. You have to do a little of your own reserch some time.
you say this every time. I'm not asking you to teach me anything. how bout just backing up your own shit instead of saying
you fail to see? oil is a vital commodity to the strength of the economy. the higher the price, the more the economy suffers.
if the american economy can shrug off high oil prices, its a sign of strength.
I'm sorry.
I thought you were citing rising oil prices as an intrinsic sign of strength.
Althought, "can shrug off high oil prices" is a bit of a reach.
Whose to say that we are not buying all that oil in exchange for education dollars or that it is not all coming at the expense of social security?
For illustrations sake, of course.
If I was to smile and I held out my hand
If I opened it now would you not understand?
you say this every time. I'm not asking you to teach me anything. how bout just backing up your own shit instead of saying
"i'm right your wrong, go research it"
Now you are agreeing that the fed or any other massive banks bailing things out isn't helping. It's just prolonging the pain.
When these banks require the money back the shit will hit the fan. Just look at the great depression.
Jlew you do alot of talking and never read any links that people put up so what would be the point of me linking stuff? If you are really interested in a topic and i'm sure the economy would be of interest to you considering the job you do, then you will reserch it for yourself.
Plus you seem on the defensive whenever someone says something about america that you don't like. If you turned around and said to me the UK economy looks like it is in for a bit of a ruff time, i would happily agree with you, not get defensive.
Keep on rockin in the free world!!!!
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
'And while stating that a US or British nuclear attack on Iran was “most unlikely,” Plesch and Butcher did not think it impossible. They calculated that nearly three million “prompt deaths” would occur in the event that 300 kilotonne nuclear bombs were dropped on just 11 suspected Iranian WMD sites.'
Three million “prompt deaths”? I wonder how the British and American media will justify that? I bet they're already working night and day preparing their respctive spin.
'The paper noted the existence of standing US war plans to counter any blockade of the strategic straits of Hormuz in the Persian Gulf, and to seize the western Iranian province of Khurzestan, where the bulk of the country’s oil production occurs.'
When these banks require the money back the shit will hit the fan. Just look at the great depression.
it already is hitting the fan. the good news is subprime loans are only a small % of loans. the overall strenght of the loan make is safe. the only people who will suffer are those who bit off more then they can chew and the loan sharks who will loose their jobs.
Jlew you do alot of talking and never read any links that people put up so what would be the point of me linking stuff? If you are really interested in a topic and i'm sure the economy would be of interest to you considering the job you do, then you will reserch it for yourself.
I do read what people post. if it has to do with the economy, trust me, Im all over it. its what I do for a living. what I do pass up is the constant alex jones links. you have something to post about the global or american economy, lets see it.
Plus you seem on the defensive whenever someone says something about america that you don't like. If you turned around and said to me the UK economy looks like it is in for a bit of a ruff time, i would happily agree with you, not get defensive.
I agree 100% that the american and global economy might see some tough times ahead. what I dont agree with is bullshit like "American Economy RIP" or others saying that economy is going to completely collapse or we are going to some other form of currency. its a joke.
'And while stating that a US or British nuclear attack on Iran was “most unlikely,” Plesch and Butcher did not think it impossible. They calculated that nearly three million “prompt deaths” would occur in the event that 300 kilotonne nuclear bombs were dropped on just 11 suspected Iranian WMD sites.'
Three million “prompt deaths”? I wonder how the British and American media will justify that? I bet they're already working night and day preparing their respctive spin.
'The paper noted the existence of standing US war plans to counter any blockade of the strategic straits of Hormuz in the Persian Gulf, and to seize the western Iranian province of Khurzestan, where the bulk of the country’s oil production occurs.'
what I dont agree with is bullshit like "American Economy RIP" or others saying that economy is going to completely collapse or we are going to some other form of currency. its a joke.
Now the north american union i wouldn't be so quick to dismiss. How long it takes is another matter. But i think there is a strong possibility considering the new world order is working towards one world goverment.
Keep on rockin in the free world!!!!
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
not to mention we have the largest banks and oil companies in the world. and ever hear of GE ? microsoft? Intel?
of the top 500 companies in the world the US is first with 167 followed by Japan with 67 and France with 38.
banks don't mean shit when your currency is WORTHLESS!!!!!!
your rose colored glasses are gonna get smashed of your face when the truth hits you.
"In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot". Mark Twain
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
do you even understand what you are saying? I mean seriously.
the question is,do you??!!!!!!!!!
"In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot". Mark Twain
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
Define worthless, because apparently we're working off of different definitions. The currency does, in fact, have value. That is proven every day with every transaction made using it. Sometimes that value goes down in relation to other currency, sometimes is goes up. If it is worthless, what do you use when you are paying others for goods and services?
"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
Define worthless, because apparently we're working off of different definitions. The currency does, in fact, have value. That is proven every day with every transaction made using it. Sometimes that value goes down in relation to other currency, sometimes is goes up. If it is worthless, what do you use when you are paying others for goods and services?
THE COLLAPSE OF THE US DOLLAR
Imagine being sent forward in time from 1967 to 2007. Instead of gas costing 25 cents a gallon, it's $2.50. A decent home, intead of costing $15,000, costs $250,000 or more. Imagine your shock that the average American family owes $9000 on their credit cards. Imagine entering a society where less than 2% of the cars on the road are owned by those that drive them, and less than 1% of the homes are owned by the people who live in them. Welcome to the debt based slave state of America in 2007. It is all symbolic of how the globalists have America right where they want it, and are eager to finish it off. As the dollar continues losing strength, what will this mean to the world?
Many will be deceived into believing that the economy is recovering; and then they will suddenly wake up to find their money worthless. As with the Argentina currency collapse a few years ago, so will the American dollar collapse likewise. However, the collapse of the US dollar is going to have much greater impact on the global economy and international political landscape than the collapse of the Argentinean peso ever did. The collapse of the dollar will reduce America to third world status, and it's people to a chaos they are woefully unprepared to face. It will be a period of tremendous hardship and economic deprivation. It will be a time of great tribulation.
With our money being worthless, there will no longer be the ability to import fossil fuels. The gas lines of the 70's will seem like a pleasant dream compared to what this would be like. Also, this will have a devastating effect upon the agriculture and transportation sectors. The transportation system will not be able to distribute food without gas or diesel. Industry will largely grind to a halt. No longer will the economy be able to function. It will be the end of the American global empire. As with the fall of the Roman Empire, America would be forced out of economic necessity to close its military bases around the world. There would be no money for government services, education, pensions, health care, security, etc. Society would quickly slip into lawless anarchy. The Homeland Security people would have their hands full, to say the least.
Yet even as the dollar slides downwards towards collapse, many refuse to believe that it is possible for something like this to happen today. After all, we live in an age when Governments and their Reserve Banks can support the value of currencies through intervention right? Various economists, speaking on behalf of the Federal Reserve, make soothing noises that there is nothing to worry about the dollar falling. They claim that this is going to assist American exporters, ignoring that the costs of imports will rise even more; and that the trade and current account deficits will continue to deteriorate. Some claim that while there have been collapses in the past surely this would not happen today. Sadly, the reality is that not only could this happen today, but it will happen much faster than at anytime in history. Modern communications enable billions of dollars can be switched from one currency to another at a click of a mouse today, when in the past it took weeks for speculators to switch from one currency to another. Never has been a time when currencies have been more vulnerable for speculation on their values.
The US Government is in a bind. If they lift interest rates to try and support the dollar, it will increase the size of the US budget deficit, plus the likelihood that the economy would go into a tailspin. The level of personal and corporate debt in the USA is now so high, that a sudden increase in interest rates would likely bring about an economic collapse. Either way, America is in deep trouble. What we could experience is a run on the US dollar, until it becomes completely worthless. There have been collapses of currencies throughout history. A recent example has been the collapse of the German Mark in 1923. At that time, the German economy was saddled in massive external debts, plus was being forced to repay war reparations. America is in a similar position today, as the world’s largest debtor nation. Let’s have a look to what happened to the German currency in the 1920’s. At the outbreak of WWI, the German Mark was going for 4.20 to the dollar, at the end of the war, the mark was 4.80 to one US dollar, at the end of 1919, it was 42 marks to the dollar. By Dec 1923 it had fallen to 4.2 trillion marks to one dollar.
The German people suffered severely during this time, and it set the stage for the rise of Hitler to power. What took 3 years to lead up to the collapse of the German economy would only take 3 weeks today, with the speed money is able to be transferred from one country to another. The collapse of the US dollar would remove America as a global power. There is now a shift of the balance of power from North America to Europe. THIS IS ALL BY DESIGN! The international bankers who control the US and global economy want America to collapse, in order to get the American people to accept a global currency. The Asian economies will also be severely affected by the collapse of the American dollar. Not only do these economies depend upon the US market for revenue from much of their exports, but they also hold substantial reserves in US dollars. The Chinese and Japanese banking systems would collapse, their dollar holding evaporating, and the high debt levels of Chinese corporations will cause a massive wave of bankruptcies.
The Euro will become the preferred currency of choice around the world, providing the Europeans with even greater political influence than the US has today. Behind all of this, the European based international bankers will further consolidate their power by creating a United States of Europe. The crises of the collapse of the US dollar will help speed up the creation of a United States of Europe defense force. Europe will emerge from the economic chaos that will erupt across the world as the dominating economic power bloc. Germany, as the engine economy in Europe, and the largest nation, will be in the drivers seat for the direction this new Europe goes in. Meanwhile, the nations of North America will be asked to repay their massive external debts. Having sold off much of their silver and gold, the creditors will look at other means of recovering the money they have advanced. America would be held in economic bondage to these international money lenders, even more than they are now. They are going to demand total control of our economy, reducing our people to slaves, where we will be held in economic bondage.
Already, America is despised around the world not only because of the Iraq situation, but also because America is generally seen as a nation that has been greatly blessed, but, partly because of the filth that Hollywood exports around the world, is seen as an incredibly arrogant, and undeserving superpower. This has left America with few friends that would come to it's financial rescue when the chips are down. God is allowing America to be humiliated and defeated for rejecting His Law, for trusting in wealth instead of trusting in God. Our leaders have for the most part rejected the Constitution, and have allowed this once great nation to be ruined by enslaving us to a group of international bankers, in direct opposition to what the Constitution states.
We are apparently now in the final countdown towards the greatest economic meltdown in history. Yet few appear to be aware of what lies ahead. We are about to witness the end of the America that we were blessed with, and enter a worldwide age of tribulation and chaos that no one has experienced in living memory.
"In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot". Mark Twain
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
OK, you said US currency is worthless. I asked you what you used in exchange for goods and services. You responded with an article from the very lunatic fringe I spoke of in another thread stating that the dollar may someday become worthless.
So is it worthless? What is your currency? I know the dollars I have in my wallet have value. I just used a couple of them this morning in exchange for a hot cup of coffee. What a deal!
"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
OK, you said US currency is worthless. I asked you what you used in exchange for goods and services. You responded with an article from the very lunatic fringe I spoke of in another thread stating that the dollar may someday become worthless.
So is it worthless? What is your currency? I know the dollars I have in my wallet have value. I just used a couple of them this morning in exchange for a hot cup of coffee. What a deal!
Considering the dollar is forced "legal tender" and you are required BY LAW as any merchant in the US to accept said "legal tender", of COURSE it has "value" ... it is forced value ...
... forced by the government which DEMANDS BY LAW that you accept its intrinsicaly worthless paper as "legal tender" ...
The dollar has value ONLY because
a. it used to be redeemable in gold or silver and was EASILY exchangeable for such
b. In the early 30s the government STOLE ALL THE GOLD in america. You were required BY LAW to turn in ALL gold or pay $10,000 and 10 years in jail!
c. In the 70s they removed the gold standard, meaning that not only did most americans not have gold, they could not GET gold
d. what else are you going to do when you don't have any other means of trade, and the government FORCIBLY IMPOSES such a means upon you?
Considering the dollar is forced "legal tender" and you are required BY LAW as any merchant in the US to accept said "legal tender", of COURSE it has "value" ... it is forced value ...
... forced by the government which DEMANDS BY LAW that you accept its intrinsicaly worthless paper as "legal tender" ...
I agree with your sentiment. BUT just because our laws demand that we accept it, those laws don't apply internationally, and there are still one or two countries out there who are happy to have our dollars and in fact use our dollars with other countries when transacting business. No force necessary.
"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
I agree with your sentiment. BUT just because our laws demand that we accept it, those laws don't apply internationally, and there are still one or two countries out there who are happy to have our dollars and in fact use our dollars with other countries when transacting business. No force necessary.
and we arent forced at all.. we are allowrd to trade things... The dollar is a document..much like a contract
Wow, the Cdn. dollar now hitting .9701 cents US. How long before the greenback goes south of even the Cdn. buck ? Thats a statement on both currencies by the way.
"What does it mean that the US has a $800 billion trade deficit?
"It means that Americans are consuming $800 billion more than they are producing."
"How long can Americans consume more than they can produce?"
"American over-consumption can continue for as long as Americans can find ways to go deeper in personal debt in order to finance their consumption and for as long as the US dollar can remain the world reserve currency."
meanwhile.....
In other news... the U.S has 100 bombers now armed with 100 smart bombs poised to strike 10,000 targets in Iran within hours of Bush giving the order.
Hey, did Iran switch from US currency for oil? Yes they did. Since 2003 they have been shifting assets away from the US dollar. Oh....again...no so good senor.
How much longer (months) do you think before Iran is bombed by the shock and awe part 2 campaign?
This one is going to make Iraq look like chump change. Iraq was only 1,500 bombs.
.
the us needs to start collecting the money it lent to all the dead beat countries. to date; poland is the only country to repay its loans from the us.
on the other hand; the world economy is going to crash because coastal areas will have to be evacuated due to rising sea waters.
the us needs to start collecting the money it lent to all the dead beat countries. to date; poland is the only country to repay its loans from the us.
on the other hand; the world economy is going to crash because coastal areas will have to be evacuated due to rising sea waters.
Dead beat countries? Are you talking about the IMF?
If so what you mean is all the countries that it tried to exploit.
Keep on rockin in the free world!!!!
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
i'm talking about the countries that defaulted on their loans. countries that came to us asking for money.
And was that through the IMF? Which coutries are you talking about?
And does it even come close to the amount of debt America is in right now?
$ 9,017,645,001,641.67
Thats a pretty large sum of money.
Keep on rockin in the free world!!!!
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
And was that through the IMF? Which coutries are you talking about?
And does it even come close to the amount of debt America is in right now?
$ 9,017,645,001,641.67
Thats a pretty large sum of money.
find a country that hasn't borrowed money from the us. i'm talking about legitimate loans they agreed to repay.
and yes; all the loans far exceed $10 billion.
find a country that hasn't borrowed money from the us. i'm talking about legitimate loans they agreed to repay.
and yes; all the loans far exceed $10 billion.
find a country that hasn't borrowed money from the us. i'm talking about legitimate loans they agreed to repay.
and yes; all the loans far exceed $10 billion.
The Marshall Plan which rebuilt much of the worls after world war 2 was basically paid for by Canada and the US. Though on paper all allied countries were on the hook for it. This money has not been paid back, not will it ever be paid paid.
“One good thing about music,
when it hits you, you feel to pain.
So brutalize me with music.”
~ Bob Marley
find a country that hasn't borrowed money from the us. i'm talking about legitimate loans they agreed to repay.
and yes; all the loans far exceed $10 billion.
So i would think if i'm not getting my loans back then i wouldn't keep uping my national debt. But i guess you'd have to have someone smart in the whitehouse to figure that out.
Regardless they don't care because it has to be paid back by the tax payer at some point. The bubble has to burst eventually.
Keep on rockin in the free world!!!!
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
Comments
But dumping more cash in to the system devalues the dollar for everyone ... everyone except the first "person" to make a transaction with it ... now that is fair, huh?
If the Fed solution to every crisis and every bad investment made by every company in this country were to dump billions of dollars in "liquidity" (read: freshly printed dollar bills, or zeroes at the end of 1s in bank accounts) ... then our dollars would be worth pennies and our pennies worth pesos.'
Here is your history lesson:
Historical Value of the US Dollar Over 200 Years When Tied to Gold, and When Fiat Currency
A dollar worth less than 7 cents !?!
I completely fail to see how "Oil hit a RECORD high TODAY" is any sort of positive indicator. Oil will continue to soar higher and higher. If it comes down, it is only because one country is increasing their output in the short term, or some country is selling barrels from their reserve.
The fact that oil continues to rise in price should be viewed as a horrible precursor to the decline of empire and the start of WWIII. It definately should not be heralded as some indicator that the economy is on the rebound!
yikes!
If I opened it now would you not understand?
you fail to see? oil is a vital commodity to the strength of the economy. the higher the price, the more the economy suffers.
if the american economy can shrug off high oil prices, its a sign of strength.
you say this every time. I'm not asking you to teach me anything. how bout just backing up your own shit instead of saying
"i'm right your wrong, go research it"
I'm sorry.
I thought you were citing rising oil prices as an intrinsic sign of strength.
Althought, "can shrug off high oil prices" is a bit of a reach.
Whose to say that we are not buying all that oil in exchange for education dollars or that it is not all coming at the expense of social security?
For illustrations sake, of course.
If I opened it now would you not understand?
Now you are agreeing that the fed or any other massive banks bailing things out isn't helping. It's just prolonging the pain.
When these banks require the money back the shit will hit the fan. Just look at the great depression.
Jlew you do alot of talking and never read any links that people put up so what would be the point of me linking stuff? If you are really interested in a topic and i'm sure the economy would be of interest to you considering the job you do, then you will reserch it for yourself.
Plus you seem on the defensive whenever someone says something about america that you don't like. If you turned around and said to me the UK economy looks like it is in for a bit of a ruff time, i would happily agree with you, not get defensive.
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
Three million “prompt deaths”? I wonder how the British and American media will justify that? I bet they're already working night and day preparing their respctive spin.
'The paper noted the existence of standing US war plans to counter any blockade of the strategic straits of Hormuz in the Persian Gulf, and to seize the western Iranian province of Khurzestan, where the bulk of the country’s oil production occurs.'
it already is hitting the fan. the good news is subprime loans are only a small % of loans. the overall strenght of the loan make is safe. the only people who will suffer are those who bit off more then they can chew and the loan sharks who will loose their jobs.
I do read what people post. if it has to do with the economy, trust me, Im all over it. its what I do for a living. what I do pass up is the constant alex jones links. you have something to post about the global or american economy, lets see it.
I agree 100% that the american and global economy might see some tough times ahead. what I dont agree with is bullshit like "American Economy RIP" or others saying that economy is going to completely collapse or we are going to some other form of currency. its a joke.
We agree
Now the north american union i wouldn't be so quick to dismiss. How long it takes is another matter. But i think there is a strong possibility considering the new world order is working towards one world goverment.
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
banks don't mean shit when your currency is WORTHLESS!!!!!!
your rose colored glasses are gonna get smashed of your face when the truth hits you.
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
do you even understand what you are saying? I mean seriously.
the question is,do you??!!!!!!!!!
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
Define worthless, because apparently we're working off of different definitions. The currency does, in fact, have value. That is proven every day with every transaction made using it. Sometimes that value goes down in relation to other currency, sometimes is goes up. If it is worthless, what do you use when you are paying others for goods and services?
THE COLLAPSE OF THE US DOLLAR
Imagine being sent forward in time from 1967 to 2007. Instead of gas costing 25 cents a gallon, it's $2.50. A decent home, intead of costing $15,000, costs $250,000 or more. Imagine your shock that the average American family owes $9000 on their credit cards. Imagine entering a society where less than 2% of the cars on the road are owned by those that drive them, and less than 1% of the homes are owned by the people who live in them. Welcome to the debt based slave state of America in 2007. It is all symbolic of how the globalists have America right where they want it, and are eager to finish it off. As the dollar continues losing strength, what will this mean to the world?
Many will be deceived into believing that the economy is recovering; and then they will suddenly wake up to find their money worthless. As with the Argentina currency collapse a few years ago, so will the American dollar collapse likewise. However, the collapse of the US dollar is going to have much greater impact on the global economy and international political landscape than the collapse of the Argentinean peso ever did. The collapse of the dollar will reduce America to third world status, and it's people to a chaos they are woefully unprepared to face. It will be a period of tremendous hardship and economic deprivation. It will be a time of great tribulation.
With our money being worthless, there will no longer be the ability to import fossil fuels. The gas lines of the 70's will seem like a pleasant dream compared to what this would be like. Also, this will have a devastating effect upon the agriculture and transportation sectors. The transportation system will not be able to distribute food without gas or diesel. Industry will largely grind to a halt. No longer will the economy be able to function. It will be the end of the American global empire. As with the fall of the Roman Empire, America would be forced out of economic necessity to close its military bases around the world. There would be no money for government services, education, pensions, health care, security, etc. Society would quickly slip into lawless anarchy. The Homeland Security people would have their hands full, to say the least.
Yet even as the dollar slides downwards towards collapse, many refuse to believe that it is possible for something like this to happen today. After all, we live in an age when Governments and their Reserve Banks can support the value of currencies through intervention right? Various economists, speaking on behalf of the Federal Reserve, make soothing noises that there is nothing to worry about the dollar falling. They claim that this is going to assist American exporters, ignoring that the costs of imports will rise even more; and that the trade and current account deficits will continue to deteriorate. Some claim that while there have been collapses in the past surely this would not happen today. Sadly, the reality is that not only could this happen today, but it will happen much faster than at anytime in history. Modern communications enable billions of dollars can be switched from one currency to another at a click of a mouse today, when in the past it took weeks for speculators to switch from one currency to another. Never has been a time when currencies have been more vulnerable for speculation on their values.
The US Government is in a bind. If they lift interest rates to try and support the dollar, it will increase the size of the US budget deficit, plus the likelihood that the economy would go into a tailspin. The level of personal and corporate debt in the USA is now so high, that a sudden increase in interest rates would likely bring about an economic collapse. Either way, America is in deep trouble. What we could experience is a run on the US dollar, until it becomes completely worthless. There have been collapses of currencies throughout history. A recent example has been the collapse of the German Mark in 1923. At that time, the German economy was saddled in massive external debts, plus was being forced to repay war reparations. America is in a similar position today, as the world’s largest debtor nation. Let’s have a look to what happened to the German currency in the 1920’s. At the outbreak of WWI, the German Mark was going for 4.20 to the dollar, at the end of the war, the mark was 4.80 to one US dollar, at the end of 1919, it was 42 marks to the dollar. By Dec 1923 it had fallen to 4.2 trillion marks to one dollar.
The German people suffered severely during this time, and it set the stage for the rise of Hitler to power. What took 3 years to lead up to the collapse of the German economy would only take 3 weeks today, with the speed money is able to be transferred from one country to another. The collapse of the US dollar would remove America as a global power. There is now a shift of the balance of power from North America to Europe. THIS IS ALL BY DESIGN! The international bankers who control the US and global economy want America to collapse, in order to get the American people to accept a global currency. The Asian economies will also be severely affected by the collapse of the American dollar. Not only do these economies depend upon the US market for revenue from much of their exports, but they also hold substantial reserves in US dollars. The Chinese and Japanese banking systems would collapse, their dollar holding evaporating, and the high debt levels of Chinese corporations will cause a massive wave of bankruptcies.
The Euro will become the preferred currency of choice around the world, providing the Europeans with even greater political influence than the US has today. Behind all of this, the European based international bankers will further consolidate their power by creating a United States of Europe. The crises of the collapse of the US dollar will help speed up the creation of a United States of Europe defense force. Europe will emerge from the economic chaos that will erupt across the world as the dominating economic power bloc. Germany, as the engine economy in Europe, and the largest nation, will be in the drivers seat for the direction this new Europe goes in. Meanwhile, the nations of North America will be asked to repay their massive external debts. Having sold off much of their silver and gold, the creditors will look at other means of recovering the money they have advanced. America would be held in economic bondage to these international money lenders, even more than they are now. They are going to demand total control of our economy, reducing our people to slaves, where we will be held in economic bondage.
Already, America is despised around the world not only because of the Iraq situation, but also because America is generally seen as a nation that has been greatly blessed, but, partly because of the filth that Hollywood exports around the world, is seen as an incredibly arrogant, and undeserving superpower. This has left America with few friends that would come to it's financial rescue when the chips are down. God is allowing America to be humiliated and defeated for rejecting His Law, for trusting in wealth instead of trusting in God. Our leaders have for the most part rejected the Constitution, and have allowed this once great nation to be ruined by enslaving us to a group of international bankers, in direct opposition to what the Constitution states.
We are apparently now in the final countdown towards the greatest economic meltdown in history. Yet few appear to be aware of what lies ahead. We are about to witness the end of the America that we were blessed with, and enter a worldwide age of tribulation and chaos that no one has experienced in living memory.
"I would rather die on my feet than to live on my knees."
Emiliano Zapata
nevermind. its the first thing that comes up when you google. THE COLLAPSE OF THE US DOLLAR. wow you are such a joke
da-du-dah-dah da-du-da-da-daah ...
If I opened it now would you not understand?
OK, you said US currency is worthless. I asked you what you used in exchange for goods and services. You responded with an article from the very lunatic fringe I spoke of in another thread stating that the dollar may someday become worthless.
So is it worthless? What is your currency? I know the dollars I have in my wallet have value. I just used a couple of them this morning in exchange for a hot cup of coffee. What a deal!
Considering the dollar is forced "legal tender" and you are required BY LAW as any merchant in the US to accept said "legal tender", of COURSE it has "value" ... it is forced value ...
... forced by the government which DEMANDS BY LAW that you accept its intrinsicaly worthless paper as "legal tender" ...
The dollar has value ONLY because
a. it used to be redeemable in gold or silver and was EASILY exchangeable for such
b. In the early 30s the government STOLE ALL THE GOLD in america. You were required BY LAW to turn in ALL gold or pay $10,000 and 10 years in jail!
c. In the 70s they removed the gold standard, meaning that not only did most americans not have gold, they could not GET gold
d. what else are you going to do when you don't have any other means of trade, and the government FORCIBLY IMPOSES such a means upon you?
i love this site:
How They Pulled Off The "Legal Tender" Scam ... or How They Raped You Without You Feeling It
If I opened it now would you not understand?
I agree with your sentiment. BUT just because our laws demand that we accept it, those laws don't apply internationally, and there are still one or two countries out there who are happy to have our dollars and in fact use our dollars with other countries when transacting business. No force necessary.
and we arent forced at all.. we are allowrd to trade things... The dollar is a document..much like a contract
the us needs to start collecting the money it lent to all the dead beat countries. to date; poland is the only country to repay its loans from the us.
on the other hand; the world economy is going to crash because coastal areas will have to be evacuated due to rising sea waters.
Dead beat countries? Are you talking about the IMF?
If so what you mean is all the countries that it tried to exploit.
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
i'm talking about the countries that defaulted on their loans. countries that came to us asking for money.
And was that through the IMF? Which coutries are you talking about?
And does it even come close to the amount of debt America is in right now?
$ 9,017,645,001,641.67
Thats a pretty large sum of money.
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
find a country that hasn't borrowed money from the us. i'm talking about legitimate loans they agreed to repay.
and yes; all the loans far exceed $10 billion.
thats Trillion with a T
when it hits you, you feel to pain.
So brutalize me with music.”
~ Bob Marley
So i would think if i'm not getting my loans back then i wouldn't keep uping my national debt. But i guess you'd have to have someone smart in the whitehouse to figure that out.
Regardless they don't care because it has to be paid back by the tax payer at some point. The bubble has to burst eventually.
The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.